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Technology Stocks : PairGain Technologies
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To: Quan Nguyen who wrote (26733)11/1/1998 8:29:00 PM
From: kvogel  Read Replies (1) of 36349
 
Useful info for all PAIR holders from CFO today.
Charles,
I am trying to understand the recent trading in PAIR and would
appreciate your comments. Even with the buyback and recent positive
press releases PAIR stock has languished while other similar tech stocks
in the telecommunications equipment industries have surged higher. It is
clear that a fund or some funds are selling PAIR shares even at these
depressed levels. Do you know who is doing this selling and why? Also,
the AXA fund has a very large position in PAIR. Do you know why they
accumulated such a large position and what their investment goals are?
Also, do you know if they are selling since they control more shares
than the total buyback proposed by PAIR?
Thank you in advance. I believe the company is moving in the right
direction and that it will be reflected in the share price before long.

Karl Vogelsang, PAIR shareholder
760-433-1556

I would never attempt to explain why the market reacts as it does to PairGain or any other stock. However, we do know the people at Alliance very well. They began buying when the stock was in the low teens, because they believed it was undervalued, and they continued buying as the share price dropped. They hold the shares in a number of their funds and money management accounts. They are long term holders who believe their investment will realize either long-term profitable results or perhaps a more rapid return in the event of a merger.

Charles McBrayer

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